US House panel finds gun makers made over $1 billion in assault rifle sales
July 28, 2022, 8:25 am

US House panel finds gun makers made over $1 billion in assault rifle sales

Handgun/Pixabay

Five major gun manufacturers combined to make more than $1 billion in revenue from assault rifle sales in the past decade, the US House of Representatives Committee on Oversight and Reform said Wednesday (July 27), the Anadolu Agency reported.

Following a devastating school shooting in Texas and a mass shooting that targeted Black people in New York earlier this year, the panel sent letters to the heads of Daniel Defense, Smith & Wesson Brands, Sturm, Ruger & Company, Sig Sauer and Bushmaster Firearms Industries in May asking for information on their marketing and sale of AR-15-style assault rifles.

The gunmen in the Uvalde, Texas and Buffalo, New York shootings used AR-15 assault rifles to carry out their grisly rampages.

In addition to making more than $1 billion in the past 10 years, the panel found that Daniel Defense’s revenue from assault rifle sales tripled to more than $120 million in 2021, compared to 2019, and Ruger’s gross earnings nearly tripled during that period.

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It also determined that gun manufacturers "employ a variety of financing tactics and manipulative marketing campaigns to sell AR-15-style rifles to civilians, including young people," and also do not track when their products have been illegally modified.

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The committee said in a statement, each of the companies acknowledged that they do not have any systems or processes in place to gather safety data on their products and "were unable" to produce any internal information on the "dangers caused by selling their military-style weapons to civilians."

Chairwoman Carolyn Maloney said the companies are "selling the weapon of choice for mass murderers who terrorize young children at school, hunt down worshippers at churches and synagogues, and slaughter families on the Fourth of July."

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"The business practices of these gun manufacturers are deeply disturbing, exploitative, and reckless," she said. "I hope my Committee’s findings and hearing serve as a call to action ahead of this week’s historic House vote to ban assault weapons and end the outrageous liability shield enjoyed by gun manufacturers."

Source: aa

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”